Consumer confidence at 21-month low

Consumer confidence at 21-month low

Thanavath Phonvichai, vice president of the University of the Thai Chamber of Commerce, announces results of its June consumer confidence survey in Bangkok on Thursday. (Photo supplied)
Thanavath Phonvichai, vice president of the University of the Thai Chamber of Commerce, announces results of its June consumer confidence survey in Bangkok on Thursday. (Photo supplied)

The consumer confidence index fell for the fourth straight month to 76.4 in June, from 77.7 in May, the lowest in 21 months, on concerns including political stability, according to the University of the Thai Chamber of Commerce.

UTCC vice president Thanavath Phonvichai said on Thursday that apart from politics, surveyed consumers were concerned about local economic problems, weak purchasing power, low farm prices and global economic uncertainty due to the trade war between China and the United States.

The confidence level was the lowest since October 2017, he said.

The university's survey of 2,246 people nationwide also showed confidence in the overall economy fell from 64.8 in May to 63.4 in June, employment confidence from 73.3 to 72.2 and confidence in future income from 95.0 to 93.5. These indices also fell for the fourth straight month.

Mr Thanavath said consumers were likely to spend carefully until the third quarter of this year.


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